Crewe Advisors LLC Raises Stock Position in NiSource, Inc $NI

Crewe Advisors LLC grew its holdings in NiSource, Inc (NYSE:NI) by 90.7% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 639 shares of the utilities provider’s stock after buying an additional 304 shares during the period. Crewe Advisors LLC’s holdings in NiSource were worth $26,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Mutual of America Capital Management LLC grew its stake in shares of NiSource by 109.2% in the 2nd quarter. Mutual of America Capital Management LLC now owns 167,926 shares of the utilities provider’s stock worth $6,774,000 after buying an additional 87,660 shares in the last quarter. Spirit of America Management Corp NY grew its stake in shares of NiSource by 12.8% in the 2nd quarter. Spirit of America Management Corp NY now owns 28,600 shares of the utilities provider’s stock worth $1,154,000 after buying an additional 3,250 shares in the last quarter. Stanley Laman Group Ltd. grew its stake in shares of NiSource by 15.6% in the 2nd quarter. Stanley Laman Group Ltd. now owns 6,036 shares of the utilities provider’s stock worth $243,000 after buying an additional 815 shares in the last quarter. Chevy Chase Trust Holdings LLC lifted its holdings in shares of NiSource by 0.9% in the 2nd quarter. Chevy Chase Trust Holdings LLC now owns 248,623 shares of the utilities provider’s stock worth $10,029,000 after acquiring an additional 2,162 shares during the last quarter. Finally, Private Trust Co. NA lifted its holdings in shares of NiSource by 390.0% in the 2nd quarter. Private Trust Co. NA now owns 2,362 shares of the utilities provider’s stock worth $95,000 after acquiring an additional 1,880 shares during the last quarter. 91.64% of the stock is owned by hedge funds and other institutional investors.

NiSource Trading Up 1.5%

Shares of NI opened at $43.89 on Tuesday. NiSource, Inc has a 1-year low of $34.23 and a 1-year high of $44.51. The company has a 50-day moving average of $42.13 and a 200 day moving average of $40.59. The firm has a market capitalization of $20.67 billion, a price-to-earnings ratio of 23.35, a PEG ratio of 3.19 and a beta of 0.60. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.59 and a quick ratio of 0.48.

NiSource (NYSE:NI) last announced its quarterly earnings data on Wednesday, August 6th. The utilities provider reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.01. NiSource had a net margin of 14.46% and a return on equity of 8.25%. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same quarter last year, the business posted $0.21 EPS. On average, research analysts expect that NiSource, Inc will post 1.91 EPS for the current year.

NiSource Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Friday, October 31st will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, October 31st. This represents a $1.12 dividend on an annualized basis and a yield of 2.6%. NiSource’s dividend payout ratio (DPR) is 59.57%.

Wall Street Analysts Forecast Growth

NI has been the subject of several analyst reports. Jefferies Financial Group lowered shares of NiSource from a “buy” rating to a “hold” rating and lowered their target price for the stock from $48.00 to $44.00 in a report on Friday, September 5th. Barclays restated an “overweight” rating and issued a $44.00 target price (up previously from $42.00) on shares of NiSource in a report on Monday, August 4th. Weiss Ratings restated a “buy (b)” rating on shares of NiSource in a report on Wednesday, October 8th. Evercore ISI raised their target price on shares of NiSource from $45.00 to $46.00 and gave the stock an “in-line” rating in a report on Monday. Finally, Wall Street Zen lowered shares of NiSource from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, NiSource has an average rating of “Moderate Buy” and an average target price of $44.56.

NiSource Profile

NiSource Inc, an energy holding company, operates as a regulated natural gas and electric utility company in the United States. It operates in two segments, Gas Distribution Operations and Electric Operations. The company distributes natural gas to approximately 3.3 million customers through approximately 55,000 miles of distribution main pipeline and the associated individual customer service lines; and 1,000 miles of transmission main pipeline in northern Indiana, Ohio, Pennsylvania, Virginia, Kentucky, and Maryland.